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If you’re considering implementing an information room for due diligence or sales processes, or for any other motive, it’s crucial to consider how the tool will be utilized by the users. The structure of the room needs to be organized and intuitive to allow potential buyers to quickly find the information they’re looking for. This will help you answer any questions quickly and speed the process of selling.
To create a structure that is logical it is recommended to first create subfolders and folders that are named according to the contents of each folder. It’s recommended to adhere to the same formatting and the naming conventions for uploading files and to only keep important documents within each folder. If you can, group related documents into subfolders. This will allow prospective buyers to find the information they’re looking for and ensure that all information relating to a particular subject is located in one place.
You might want to request that users sign a nondisclosure contract prior to granting them access to your data room. This is a normal practice when dealing with sensitive information. It will reduce the risk of theft of intellectual property. Virtual data room providers provide stock NDA templates that can be customized to meet your specific needs. You can set up granular permissions to restrict access to specific files to specific users. You can easily revoke permissions of a user if you change your decision. This is the case even if a user has already downloaded or viewed documents from your data room.
